Other ABS


Florida Cat Fund Seeks $2.2B for Liquidity Needs

The Florida Hurricane Catastrophe Fund says it needs about $2.2 billion to shore up its liquidity needs and will examine using taxable municipal bonds or — for the first time ever — transferring a portion of its risk via reinsurance from the private sector. This could include catastrophe bonds.

Snow Bank: Boston Takes Another Look at Catastrophe Bonds

The Massachusetts Bay Transportation Authority had previously looked into cat bonds and decided not to pursue issuance, according to deputy general manager and chief financial officer Jonathan Davis. Then came 110 inches of snow.

JG Wentworth Plans $213M Structured Settlement Securitization

The bulk of the collateral, or 94.15%, consists of court-ordered structured settlements related to personal injury; another 3.11% is related to annuities and 2.74% to lotteries.

Louisiana Panel OKs $875M in Tobacco Bonds

The deal, in which $875 million in bonds would be issued to raise funds for the state's higher education scholarship program, still must be approved by other agencies as well as the Legislature, corporation board members were told March 17.

Blue Elephant Securitizes Prosper Marketplace Loans

The $60.8 million transaction will help pave the way for the investment firm’s next big play, on loans from marketplace platforms that haven't attracted the same kind of public attention as firms like Prosper.


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Volcker Rule Extension for CLOs Comes with Big Catch

A two-year extension to the deadline for banks to conform CLO holdings to the Volcker Rule doesn't apply to all, the Federal Reserve says.

CLO Pros See No Letup in Demand

Despite regulatory hurdles, participants see nothing in the way of issuance reaching $60 billion to $70 billion this year.

Babson CEO Finke: CLOs Often Unfairly Judged

Finke says the industry needs to address the lack of understanding about its performance and role in the economy.

Cutting Solar Funding Costs

Two academics argue that aggreggating standardized assets is key to solar securitization, which can meaningfully reduce funding costs for developers.

Still No Volcker Relief for CLOs

Despite pressure from Capitol Hill, regulators are disinclined to allow banks to hold collateralized loan obligations backed by bonds.


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In the news: European CLO Managers' Lament: No Market for Sterling Tranches

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With Ocwen, Enforcement Is a Balancing Act

State attorneys general continue to aggressively investigate Ocwen Financial's mortgage servicing practices, but they are also mindful that too much enforcement could cripple the company and cause major headaches for millions of homeowners whose loans Ocwen services.

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